March 31, 2020

News about Employer and Consumer Business

Payment flexibility for fully insured group customers

We have been closely monitoring the situation with COVID‑19 (Coronavirus) and we understand the financial impact our customers and members may be experiencing. We are committed to working with our customers to help them get through the crisis and will be offering payment flexibility for the customers who are most in need.

Resources for businesses

There are many state, local, and federal loans, grants, and programs aimed at supporting small business during and after the COVID‑19 pandemic. For more information, visit the Chamber of Commerce for Greater Philadelphia.

Fully insured business

We encourage all customers who are able to pay their premiums on time to continue to do so, but we understand the toll this crisis is taking on business of all sizes. For customers who are unable to make their premium payments, we will be offering two opportunities to help lessen this burden.

Credit card payments

For fully insured customers with fewer than 500 enrolled employees, we will be accepting credit cards for premium payments from April 6 until July 31, 2020. Credit card payments may be used to satisfy past‑due premiums as well as any current amounts that are due. We will be accepting American Express, Discover, Visa, and MasterCard. We will also be waiving any fees associated with credit card payments. Customers can make credit card payments through the eBill functionality on the employer portal. We will provide step‑by‑step instructions for eBill in a future communication.

Deferred payment plan

In extreme hardship cases, we will allow fully insured customers with fewer than 500 enrolled employees to defer either their April or May monthly premium with no interest and no penalty. The deferred premium will need to be paid over three monthly installments that will be paid with their August, September, and October payments. Interested customers would need to sign a Deferred Payment Plan Agreement. Here’s how it will work:

ABC Company: Monthly Premium $1500 and customer defers payment for April coverage.

¹ The standard 30‑day grace period still applies.

The program is available to all non‑exchange, fully insured small and large group customers with fewer than 500 enrolled employees who are experiencing an extreme hardship. Fully insured customers that offer Medicare Supplement coverage would also be eligible provided the client’s total enrolled employees remains under 500. To qualify for a deferred payment plan, customers must be paid through March premiums to defer the April premium payment and paid through April premiums to defer the May premium payment. Independence reserves the right to exclude a group from the program based on their ability to meet financial obligations through the length of the program.

We will provide the Deferred Payment Plan Agreement and instructions on how to enroll customers in the program later this week. If your business is through a general agent, we will be communicating with your general agent. If your business is directly with Independence, we will be coordinating directly with you.

Please note that all commission payments will remain business as usual and based on premium received.

Contact your account executive if you have a fully insured customer with 500 or more enrolled employees having an extreme financial hardship.

Policy for furloughed employees

Recently, we issued an Independence Edge explaining our policy regarding furloughed employees. Please review this FAQ for more information and answers to your questions.

Consumer commercial business

The Centers for Medicare and Medicaid recently issued guidance on grace period flexibility for members enrolled in Affordable Care Act plans. We are evaluating this guidance and working diligently to finalize a plan for payment flexibility for members enrolled in our individual and family plans.

For businesses that have been forced to lay off employees, individual insurance may be a better option than COBRA to keep people insured. For more information on Independence options for individuals and families, please visit ibx4you.com.

If you have any questions about the payment options available to your customers, please contact your account executive.